The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1887-11-27

Shob mOIO OuIEcuCy Is III ClICulhIlOL
than ever before, and Treasury depos-
Its with banks feed the speculative
fever, while removing the fear of mon
etary pressure at the chief centres OF
trade. Meanwhile money remains light
at many interior points, and complaints
Of slow collections do not abate.
Business is generally active for the
season, though at some points retarded
by slow collections or recent failures.
| Exchanges last week fell below those OF
| the same week last year, but the great
increase at most western and southern
| cities continues. At Chicago, the relief
after the hanging and funeral Of tbs
Anarchists. gives a new impetus; at
. Omaha, collections are satisfactory and
trade good; better business is noted at
Boston, especially in wool, boots and
! shoes, and leather. At Milwaukee,
! trade is slightly dulier; the receiVership
| for the largest local dealers in mining
properties causes some dIsheartenment
at Atlanta, trade is slightly less active.
and merchants are bending their ener
gies to the work of liquidation. At
Memphis, serious damage results from
the long drought and prevalent fires,
and Nashville finds fires and failures an
embarrassment. A bank failure, caused
by phenomenal loans to various manu-
featuring concerns, affects st. Louis;
the closing of Canadian bank at Sault
Ste. Marie, is reported, and money
continues close at Kansas City. Collec-
tons are dull there slow at Milwaukee,
only fair at Nashville and Atlanta, and
slightly backward at Philadelphia.
The great speculation in wheat goes
on in spite of a decline of 8, 200, 900
bushels in October exports, and 8 300, 900
bushels in September. Never mind
the exports, we are making money"
the traders say; but the quantity re-
naming on hand November 1st, after
allowance for full years consumption,
was Los, 800 600 bushels, whereas the
exports for the remaining months of the
last crop year were 100, 1853 GAL bushels
Corn is excited because of the Bureau
reduction of 100000 bushels in its
@ innate; at the same time pork pro-
ducts and cattle rise. Yesterday mar.
kets showed sharp reaction in grain,
but whether the speculation has cul-
minated no one can say. Cotton has
reacted but little from the great ad-
vance caused by the Bureau report, but
receipts continue large beyond preced-
ent; if the Bureau estimate of $500 0U0
bales is correct, the quantity which has
come forward already, aoout 1924 900
bales, is not less than 51.6 per cent. of
the years yield. It's not strange that
some are in doubt about it.
Stocks advanced an average of Ga
points from the lowest a month ago,
but showed some hesitation on Thurs
day and Friday, under large sales from
Europe and elsewhere. Excellent earn
ings and prosperous business in the in
terror are the prevailing arguments,
and there are very many new enter
prises waiting to find buyers for secari-
ties, so that strong parties are anxious
for sustained advance. The iron in
terest ls especially concerned; con-
sumption continues large and prices are
still held, with strong hope that the
marketing of securities may ensure
another year of extensive railroad
building. In ten months, 9 408 miles
have been completed against 5000 IN
the whole of last year. Coal is in great
demand, the Reading having given no.
tIce of another advance for the 2lst.
Exports for two weeks from New |
York fall ISL per cent. below last year
but imports here also fall short at 8.5 |
per cent. The Treasury continues to |
swell its deposits with banks, adding |
81 $50 600 since last week, but has taken |
in $2,4OO,OOO gold, while putting out
s. 800 600 silver notes. Money is in fair |
supply at the chief centres of trade, but |
the movement westward has not even
yet entirely ceased.
The business failures occurring |
the country during the past
seven days, as reported to R. g. Dun &
Co., the Mercantile Agency. Friday, by
telegraph, number, for the United |
States POS. and for Canada 10, or total
of 224, as compared with total of 217 |
last week, and 245 the week previous to
the last. For the corresponding week
Of last year the figures were 242, being
2O7 failures in the United States, and 35
IN Canada.